23 Apr 2015

OVERVIEW

  • Tragically, one fatality occurred at the Twickenham project in Q1 2015
  • Group equivalent refined platinum production increased to 536 koz, up 50% over the strike affected Q1 2014
  • Mogalakwena production increased to 100 koz, a 13% increase due to improved mining performance, recoveries and higher grades
  • Refined platinum production increased by 25% to 542 koz compared to the strike affected Q1 2014

REVIEW OF THE QUARTER

OPERATIONS

Anglo American Platinum tragically suffered one fatality at the Twickenham project. On 26 January 2015, Mr Michael Malesa was fatally injured when he was struck by a utility vehicle. We are investigating the circumstances which led to this tragic event and will implement the necessary remedial actions to prevent a repeat, as we continue our journey to reach a target of zero harm. The Lost time Injury Frequency Rate ("LTIFR") per 200,000 hours at managed operations for the quarter was 0.97, marginally higher than the normalised LTIFR (adjusting for the strike) of 0.95 for 2014.

Total equivalent refined platinum production (equivalent ounces are mined ounces expressed as refined ounces) increased by 50% to 536 koz, compared to 357 koz in Q1 2014 which was impacted by the industrial action. Production at Rustenburg (106 koz) continued on the strong momentum as seen in Q4 2014, but Amandelbult (81 koz) and Union (32 koz) were impacted in the quarter due to Section 54 safety stoppages. The first quarter of the year has less working shifts than the final quarter and therefore production was marginally lower than the fourth quarter of 2014.

Mogalakwena had another strong production performance, increasing 13% to 100 koz, due to improved mining performance, recoveries and higher grades.

Production from the Joint Venture and Associate operations (mined and purchased) decreased by 6% to 172 koz compared to 183 koz in Q1 2014. Production was impacted at Bafokeng-Rasimone Platinum Mine (BRPM) due to a fatal incident at the BRPM North Shaft and at Kroondal due to Section 54 safety stoppages at the mine.

Refined platinum production increased by 25% to 542,400 ounces, following the industrial action in Q1 2014. Refined palladium and rhodium increased for similar reasons. The mix of metals has returned to normal compositions as all mines are now producing around normal production rates.

Download the Anglo American Platinum Limited Production Report for the first quarter ended 31 March 2015

distributed by